Las Vegas Sun

March 29, 2024

Gas prices slide below $3.50 a gallon

Gas prices across the Las Vegas Valley have dropped to levels not seen in about six months.

The average price of a gallon of regular unleaded gas stood at $3.48 this morning, auto club AAA reported. That's down from $3.49 on Tuesday and a drop of about 20 cents from a month ago.

Gas prices statewide averaged $3.547 a gallon today -- a price not seen since late March and early April. Prices have decreased steadily since the summer after the average price per gallon peaked at $4.279 in Las Vegas on June 21.

Drivers in the valley were shelling out about $2.757 a gallon a year ago.

Nevadans still are paying less than the national average, which was $3.619 this morning. According to AAA, residents of 35 states are paying more than motorists in Nevada. The nation's cheapest gas today is in New Jersey, at $3.34 a gallon.

Crude oil has fallen about $25, or 20 percent, in the last seven days to about $99 a barrel after peaking near $147 a barrel this past summer. Oil prices fell again today as fears of falling demand for oil and gasoline trumped expectations that lawmakers will pass a revised bank bailout plan rejected Monday.

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